Future cities and new industries

HSBC and the cities

Unplanned, extreme urbanisation and hyper-connectivity are reshaping our cities and driving change in the economic landscape. We need to help our cities expand their networks and trade so they can thrive in the global economy.

  • The origins of the bank lie with two cities Hong Kong and Shanghai, and HSBC name is derived from the initials of the Hongkong and Shanghai Banking Corporation.
  • HSBC has been servicing citizens, corporations and governments across the world for more than 150 years.
  • By applying worldwide best practice from public, private sectors and NGOS coupling with innovative technology and policies, HSBC delivers innovative, financial solutions that meet cities' needs in infrastructure, sustainability and civic.

  • Globalisation and urbanisation trends are reforming our cities
  • 4.2 billion people live in cities across the world and this is set to rise to 5.2 billion by 2030 and 6.7 billion by 2050 according to UN.1
  • The public sector would be the natural owner of 70 percent of the applications we examined. But 60 percent of the initial investment required to implement the full range of applications could come from private actors. Furthermore, more than half of the initial investment made by the public sector could generate a positive return, whether in direct savings or opportunities to produce revenue.2
  • It is estimated that we will invest USD78 trillion in global infrastructure over the next 10 years alone to accommodate this growth.3
  • Cities may only occupy 2 per cent of our global landmass, but they already consume 75 per cent of all global resources and generate 70 per cent of direct CO2 emissions. These new urban populations will require basic services such as water, energy, sanitation, food, and housing, as well as the 'luxuries' of employment, education, culture, and recreation.4
  • Cities across the world are required to transform their services and infrastructure in order to cope with extreme urbanization and population growth. They also need to ensure economic growth via investment, innovation, business creation and introduction of new policies.
  • Declining private investment in infrastructure and a renewed increase in global carbon emissions in 2017 are stark reminders of the inability so far, to sufficiently align investment in long term sustainable development.

 

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